Microsoft also announced this morning that it provided a $2 billion loan to Dell and Silver Lake, confirming previous rumors. In a (very) pithy statement this morning, Microsoft said it was “committed to the long-term success of the entire PC ecosystem” and it’s investing in a variety of ways to continue that ecosystem.

Dell stockholders will get $13.65 for each share of Dell stock, a deal worth around $24.4 billion. That’s a 25 percent premium over the company’s $10.88 share price on Jan. 11, the last time the stock traded before rumors of Dell going private hit. The company’s board reportedly voted last night to approve the deal, according to the New York Times.

By going private, Dell hopes to turn around its fate in a languishing PC market. The company is also trying to make a dent in mobile with tablets after giving up on smartphones. Like BlackBerry (formerly RIM) and Nokia, other giants from yesteryear, Dell is aiming to be relevant again by doing something drastic.

“I believe this transaction will open an exciting new chapter for Dell, our customers and team members,” founder and chief executive Michael Dell said in a statement this morning. “We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise. Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision.”